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The 90-day correlation between Bitcoin ($BTC) and gold has reached its highest point since the Covid-19 pandemic, according to data from Bitwise, as rising yields on longer-dated U.S.
Treasury bonds and a broad market selloff pushed the two assets into tighter alignment. Bitcoin spent much of the past several years tracking technology stocks more closely than gold.
That relationship has inverted through the latest stretch of market volatility.
The August print In the second half of August, Bitcoin rose nearly 25% while gold climbed 5% and equities declined, with bond market turmoil as the driver.
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